The Manufacturers Life Insurance Company Acquires 26,488 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

The Manufacturers Life Insurance Company grew its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,484 shares of the biotechnology company's stock after acquiring an additional 26,488 shares during the period. The Manufacturers Life Insurance Company owned 0.28% of Blueprint Medicines worth $15,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. R Squared Ltd bought a new position in Blueprint Medicines in the 4th quarter worth approximately $51,000. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines during the fourth quarter worth $65,000. Thematics Asset Management acquired a new position in shares of Blueprint Medicines during the fourth quarter valued at $72,000. Covestor Ltd increased its position in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after purchasing an additional 375 shares during the period. Finally, Asset Management One Co. Ltd. bought a new stake in Blueprint Medicines during the 4th quarter worth about $88,000.

Blueprint Medicines Stock Up 0.7 %

Shares of Blueprint Medicines stock traded up $0.68 on Wednesday, hitting $99.84. The company had a trading volume of 906,170 shares, compared to its average volume of 777,609. Blueprint Medicines Co. has a twelve month low of $73.04 and a twelve month high of $121.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The stock has a 50-day moving average of $88.07 and a 200-day moving average of $93.53. The firm has a market capitalization of $6.38 billion, a P/E ratio of -92.44 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The company had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Blueprint Medicines's revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. Research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the transaction, the chief operating officer now owns 66,992 shares in the company, valued at $6,816,436. This trade represents a 3.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. This represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,503 shares of company stock worth $1,027,931. 4.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BPMC has been the subject of several analyst reports. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price target for the company. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Needham & Company LLC cut their price target on Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. lifted their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, Scotiabank assumed coverage on Blueprint Medicines in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 target price on the stock. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Blueprint Medicines has an average rating of "Moderate Buy" and an average price target of $126.56.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.